LOCAL STOCKS
The local market ended slightly higher on modest volumes, the KSi added 15.95 points or 0.32 percent to 5,055.05. Resource stocks moved up with LGL and OSH closing at K6.00 and K11.10 respectively, despite the metal prices moving otherwise. Last night in overseas saw the markets in US and Europe rebounded riding on the news that Fed Reserve gave some assurance that the economy is stabilizing.
The market may open higher after positive leads metals may also push the market higher today. On the pre-open phase of the market this morning has buyers queued at K2.49 for CPL while offers are available for NBO at K17.90.
PNG NEWS
In currency news, Kina maintained is buying at 0.4674 and selling at 0.4231 Aussie.
MOVERS
Wednesday’s gainers and losers on the local bourse12/08/09:
BSP: -1.21%
LGL: 1.35%
OSH: 0.45%
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